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Calpine Corp., (CPN) a big U.S. power generator that has been hit by sluggish demand and weak pricing, is exploring a sale.
Update(s):
July 27, 2017: Energy Capital Partners, the private equity firm that owns the largest stake in U.S. power generator Dynegy Inc., (DYN) is now in advanced talks to buy its rival Calpine Corp., according to people familiar with the matter.
August 17, 2017: Private-equity firm Energy Capital Partners is nearing a deal to buy power-generation company Calpine Corp., (CPN) according to people familiar with the matter.
August 18, 2017: Calpine Corporation (CPN), America’s largest generator of electricity from natural gas and geothermal resources, today announced that it has entered into a definitive agreement under which Energy Capital Partners along with a consortium of investors led by Access Industries and Canada Pension Plan Investment Board will acquire Calpine for $15.25 per share in cash, or $5.6 billion.